To the surprise of many, in spite of the global pandemic and what appears to be one of the worst recessions in Singapore’s history, COE prices have increased significantly in 2020.

As of the first bidding in January 2021, COE prices for Category A are at $40,609, Category B is at $49,001 while Category C is at $49,489, making COE prices at their highest level since May 2019.

As a result of higher COE prices, car prices in Singapore are likewise more expensive. This does not bode well for those of us hoping to buy an affordable car in Singapore.

If you don’t urgently need a car, or can wait before changing your existing car, it might be prudent to wait for COE prices to soften first. Furthermore, before committing to the purchase of a car, it’s also important to consider the long-term cost of owning a car in Singapore .

That said, if you need a car urgently and have the funds to afford one, here are some of the cheapest cars you can buy in Singapore today.

All prices below are as quoted by the authorised dealers at the time of writing.

5. Mazda 2 Hatchback 1.5 Standard (A) – $81,888

At more than $80,000, this entry-level hatchback offered by Mazda is far from what you would consider cheap. However, with high COE prices, this is simply the time that we live in. If you want to drive an entry-level car, you have to be prepared to pay.

According to Mazda, fuel consumption is at a reasonable 18.5km/L. It’s a hatchback, so don’t expect tons of boot space as it only offers about 250L worth.

While the Standard version comes with just 2 airbags, the Deluxe version which costs more comes with 6 airbags and other added technology so that might be worth upgrading for if you don’t mind spending a few thousand dollars more. It’s quick as well, with a 0-100km/hr time of 10.1 seconds.

4. Mitsubishi Space Star 1.2 CVT Style (A) – $73,999

A small and nimble hatchback, the Mitsubishi Space Star is a good alternative for couples or small families who do not need so much space.

At about $8,000 cheaper than the Mazda 2, the Space Star also comes with 6 airbags and some additional features such as keyless engine start, auto headlights and electrical retractable side mirrors.

Its fuel consumption rate of 21.2km/l also makes it economically sound choice for drivers who are intending to get the best possible mileage from their car in the long-term.

3.  Mitsubishi Attrage 1.2 CVT Style (A) – $73,999

We used to consider the Mitsubishi Attrage as the bigger brother compared to the Space Star, but we think it’s more accurate to consider the two cars as cousins. Pricewise, Cycle and Carriage has priced them equally so now, it’s not so much as which car is better but rather, which is more suitable for you.

The Mitsubishi Attrage is what you will opt for if you need a bigger car with more space. It can quite comfortably take 3 adult passengers at the back and comes with a boot space of 450L, which is larger than many other sedans that are priced much higher.

Similar to the Space Star, it also comes with 6 airbags and features that you want such as keyless engine start, auto headlights and electrical retractable side mirrors.

All in all, an affordable choice if you want a Japanese sedan.

2. Perodua Myvi 1.3 X (A) – $71,999

A Malaysian car manufacturer, Perodua currently offers two car models in the Singapore market.

The Myvi is the smaller (and more expensive) of the two. A small hatchback, it offers a basic no-frill drive and comes with 4 airbags, keyless engine start and electrical retractable mirrors. Boot space is at 277L while fuel consumption is at 21.1km/L.

1. Perodua Bezza 1.3 Premium X (A) – $68,999

Considering that COE prices for Cat A is already at the $40,000 mark, it’s nice to see that there is still a car in the market which is priced below $70,000.

At $68,999, you are essentially paying just $28,999 for this car once you take into consideration the current COE price.

And if you consider the PARF rebate for the car if you deregister after 10 years which would be about $5,500, you are probably paying about $24,000 for the car, minus the COE price of course.

For that, the Bezza gives you 2 airbags, a whooping 508L of boot space with reported fuel consumption of 21km/l. It’s a proper-sized sedan that gives a good amount of space for passengers so it’s perfect for those road trips to Malaysia (once Covid-19 is over).

But best of all, it’s the cheapest car you can buy in Singapore right now.

This article was first published in Dollars and Sense.